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500 BILLION Euro rescue FUND gets GREEN LIGHT Eurozone's merry-go-round of BAILOUTS can continue!

Germany’s Constitutional Court has ruled that the €500-billion bailout is legal under German law. The verdict comes as Greece’s coalition government hesitates on the further austerity cuts required by its creditors. “Today, Germany is once again sending a strong signal to Europe and beyond. Germany is assuming with determination its responsibility as the biggest economy and as a reliable partner in Europe,” German Chancellor Angela Merkel told Parliament hours after the ruling. “This is a good day for Germany and this is a good day for Europe,” she said. The verdict ruled that the German government will not be liable for sums over 190 billion euros without approval of the Bundestag, and that both houses of parliament would be informed, “No provision of this treaty may be interpreted in a way that establishes higher payment obligations for the Federal Republic of Germany without the agreement of the German representative,” the court said in a statement. The court has reviewed a petition, signed by some 37000 Germans, against Chancellor Angela Merkel’s plan for a new economic bailout for troubled eurozone countries. The plaintiffs were demanding safeguards for Germany’s economic and political sovereignty. The case was spearheaded by politicians and lawyers from across the political spectrum. The opposition delayed implementation of the European Stability Mechanism (ESM) and the so-called ‘fiscal pact’ — a binding commitment for European governments not to go further into

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